Chapter 4 The Economic Environment 1. International economic analysis is a vital topic to citizens, managers, policymakers, and institutions given the growing pressure to _____. a. understand the implication of country's economic development programs b. find the best product bargains c. identify way to in-shore production d. identifying the next wave of industry rivalry Answer: a. understand the implication of country's economic development programs 2. There is no universal scheme to assess the performance and potential of a country's economic environment due to two challenging conditions, namely the difficulty of specifying a definitive set of economic indicators and _____. a. collecting relevant data for the chosen economic indicators b. understanding the relationship among the various elements of the economic environment c. agreeing on how to measure the various elements of the economic environment d. ensuring the right estimators are used under the right circumstances Answer: b. understanding the relationship among the various elements of the economic environment 3. Given that globalization connects countries in many ways, managers need to pay close attention to economic environments to understand how _____. a. the next wave of consumer trends and fads may change market patterns b. political pressures may trigger social change c. dramatic change in one country likely has economic consequences in other countries d. cultural change will lead to new market opportunities Answer: c. dramatic change in one country likely has economic consequences in other countries 4. A key benefit of international economic analysis is that understanding a country's economic policies gives a clear indication of _____. a. the next wave of consumer trends and fads b. how business contracts work in the local market c. the legitimacy of the national government d. government's goals and the economic tools and market reforms it must adopt. Answer: d. government's goals and the economic tools and market reforms it must adopt. 5. Gross national product (GNP), often regarded as a yardstick for the economic activity of a country, is defined as _____. a. the total of all consumption and investment that takes place in a national economy b. the total of all economic activity in one country, regardless of who owns the productive assets c. the total of all economic activity in one country less services, such as government administration, health services, and education d. the market value of final goods and services produced by domestic factors of production, whether done at home or abroad Answer: d. the market value of final goods and services produced by domestic factors of production, whether done at home or abroad 6. A measure of value of production that occurs within a country's borders without regard to whether the pro¬duction is done by domestic or foreign factors of production is commonly referred to as _____. a. net national product (NNP) b. net material product (NMP) c. gross domestic product (GDP) d. gross national product (GNP) Answer: c. gross domestic product (GDP) 7. Which of the following statements regarding gross national income (GNI) is false? a. Gross national income refers to size of demand. b. The key dimension used to distinguish one country from another is the size of demand. c. Gross national income was formerly referred to as gross national product. d. Gross national income and gross domestic product can be used interchangeably. Answer: b. The key dimension used to distinguish one country from another is the size of demand. 8. Per capita GNI is determined by ____ the size of GNI of a nation by its total population. a. dividing b. multiplying c. adding d. subtracting Answer: a. dividing 9. The United Nations' _____ is based on life expectancy, educational attainment, and whether the average income is sufficient to meet the basic needs of life in a particular country. a. Human Development Index b. Quality of Life Index c. Humane Living Index d. Economic Vitality Index Answer: a. Human Development Index 10. Some argue that gross national income, and its expression in terms of per capita, growth rate, or PPP refinements, focuses too much on _____, thereby only partially representing the scale and scope of a country's level of development. a. consumption frontiers b. monetary growth c. market demographics d. fiscal policy Answer: b. monetary growth 11. The Human Development Index measures the average achievements in a country on three basic dimensions of human development, including _____. a. mortality b. quality of diversions c. extent of knowledge d. social externalities Answer: c. extent of knowledge 12. By design, the Human Development Index aims to capture _____ progress in human development. a. immediate b. short term c. medium term d. long-term Answer: d. long-term 13. A major problem of inflation is that it _____. a. destabilizes a country's political system b. Gives central banking officials more flexibility to manage monetary policy c. increases the real income of people, increasing their expectations d. improves the standard of living for poorer segments of the population Answer: a. destabilizes a country's political system 14. _____ occurs due to a pervasive and sustained rise in the aggregate level of prices as measured by an index of the cost of various goods and services. a. Deflation b. Inflation c. Expansion d. Contraction Answer: b. Inflation 15. Inflation affects all of the following except _____. a. interest rates b. exchange rates c. cultural norms d. the cost of living Answer: c. cultural norms 16. In general, the implications of hyperinflation to companies include _____. a. increasing the incentive to save b. reducing the riskiness of ordinary investment instruments c. clarifying the nature of market demand and consumer tastes d. increasing the difficulty of planning long-term investments Answer: d. increasing the difficulty of planning long-term investments 17. Countries that are unable to create jobs for its citizens create a risky business environment because people out of work and unable to find jobs generally do all of the following except _____. a. support trade liberalization to generate domestic jobs b. depress economic growth by consuming less c. create social pressures d. provoke political uncertainty Answer: a. support trade liberalization to generate domestic jobs 18. The so-called "misery index" is the sum of a country's _____. a. external and internal debt b. inflation and unemployment rates c. unemployment level and total debt d. trade deficit and inflation rate Answer: b. inflation and unemployment rates 19. Government internal deficits can occur for any of the following reasons except _____. a. the tax system is so poorly run that the government cannot collect all the revenues it expects b. government programs such as defense and welfare exceed total tax revenues c. the government's successful privatization program is proceeding too quickly d. state-owned enterprises continue to run large deficits Answer: c. the government's successful privatization program is proceeding too quickly 20. The debt/service ratio is _____. a. the ratio of debt to services income b. relatively low in the western hemisphere c. inversely related to a country's rate of inflation d. the ratio of interest payments plus principal Answer: d. the ratio of interest payments plus principal 21. Uneven income distribution _____. a. complicates estimating the wealth of a country's citizens b. is largely a problem for poorer nations c. primarily affects people in urban settings d. is limited to a small share of the world population Answer: a. complicates estimating the wealth of a country's citizens 22. In 2003, more than _____ of the world's countries reported report per capita yearly incomes well below $1,000. a. 10 percent b. 33 percent c. 50 percent d. 66 percent Answer: b. 33 percent 23. The degree of poverty in the world today _____. a. marginally impacts the analysis of economic environments b. is significantly overstated c. appears to be growing d. has few strategic implications to the business environment Answer: c. appears to be growing 24. Enduring worldwide business activity and economic progress ultimately depends on finding effective ways to _____. a. eliminate poverty b. ignore poverty c. diffuse poverty d. alleviate poverty Answer: d. alleviate poverty 25. The statement that summarizes all economic transactions between a country and the rest of the world during a given period of time is the _____. a. balance of trade b. balance of international transactions c. balance on goods, services, and investments d. balance of payments Answer: d. balance of payments 26. The two main categories in the balance of payments are the _____. a. merchandise exchange account and the services account b. income receipts and payments on assets account and the unilateral transfers account c. current account and the capital account d. merchandise trade account and the capital account Answer: c. current account and the capital account 27. The _____ is comprised of trade in goods and services and income from assets abroad. a. capital account b. current account c. payment account d. deficit account Answer: b. current account 28. The fundamental notion of balance means that all balance of payment transactions _____. a. have an offsetting receipt b. ignore unilateral transfers c. measure only a small share of total transactions d. overly emphasize the balance of trade Answer: a. have an offsetting receipt 29. An economic system is the set of structures and processes that _____. a. guides the al¬location of resources and shapes the conduct of business activities b. directs the movement of specific products to specific consumers c. sets the standards of competitive success for companies in the economy d. stipulates the roles and responsibility of consumers Answer: a. guides the al¬location of resources and shapes the conduct of business activities 30. Spectrum analysis gives a sense of the range of economic systems in the world today. One end of the spectrum is anchored by the idea of _____, the other with that of _____. a. socialism; liberalism b. capitalism; communism c. communism; liberalism d. socialism; capitalism Answer: b. capitalism; communism 31. Capitalism is a free-market system built on the all of the following notions except _____. a. private ownership of assets b. right to earn a profit in return for individual effort c. arbitrary property rights d. private control of investment Answer: c. arbitrary property rights 32. Communism champions a _____ system built on state ownership of all economic factors of productions and control of all economic activity. a. publicly planned b. competitively planned c. market-planned d. centrally planned Answer: d. centrally planned 33. In a market economy, resources are allocated and controlled by _____. a. governmental administrators who monitor the equilibrium of supply and demand b. Industry coalitions that strive to improve the efficiency of production c. alliances among key consumer groups that negotiate with companies to improve the quality of the purchasing process d. consumers who "vote" by their personal decision to buy or not buy products Answer: d. consumers who "vote" by their personal decision to buy or not buy products 34. Market economies are character¬ized by _____. a. heavy government spending and high taxation to pay for a range of social services b. formal cooperation among government, companies, and workers to achieve stable growth and full employment c. minimal governmental participation and the promotion of growth through improving the mobility of production factors d. the principle of consumer sovereignty through decreased involvement in the economy of the central government Answer: c. minimal governmental participation and the promotion of growth through improving the mobility of production factors 35. A system in which the resources are allocated as a result of constant interplay between individuals and companies, between individuals, and between compa¬nies, is commonly referred to as a _____. a. command economy b. market economy c. centrally planned economy d. mixed economy Answer: b. market economy 36. Consumer sovereignty is _____. a. consumers' inalienable freedom to influence production by exercising their power of choice regarding purchases b. the freedom granted to individuals through the right to vote c. the idea central to the proper functioning of command economies d. the power of consumers to directly influence production through votes made periodically in command economies Answer: a. consumers' inalienable freedom to influence production by exercising their power of choice regarding purchases 37. In a command economy, the goods and services that a country produces, the quantity in which they are produced, and the prices at which they are sold are planned by _____. a. government officials b. private industries c. individual entrepreneurs d. local trade associations Answer: a. government officials 38. In a centrally planned economy, _____. a. businesses and consumers are assumed to be better judges of how resources should be allocated than is the government b. government sets goals and determines the price and quantity of what is produced c. different economic sectors coordinate the activities of the central government d. each enterprise sets its goals, and then reports them into the central government Answer: b. government sets goals and determines the price and quantity of what is produced 39. In a _____, all dimensions of economic activity, including pricing and production decisions, are determined by a central government plan. a. market economy b. mixed economy c. command economy d. democracy Answer: c. command economy 40. In which of the following types of economies does the government consider itself a better judge of resource allocations than its businesses or citizens? a. market economy b. mixed economy c. democracy d. command economy Answer: d. command economy 41. In a _____ economy, certain sectors of the economy are left to private ownership and free market mechanisms, while other sectors have significant state ownership and government planning. a. state-directed b. market c. command d. mixed Answer: d. mixed 42. A _____ is one in which the state plays a significant role in directing the investment activities of private enterprise through "industrial policy" and in otherwise regulating business activity in accordance with national goals. a. market economy b. state-directed economy c. mixed economy d. command economy Answer: c. mixed economy 43. Some countries opt for a mixed economic system in the belief that although an economic system should aspire to achieve the efficiencies endemic to free markets, it must also apply policies needed to _____. a. stabilize poverty rates b. achieve low unemployment c. harness economic growth d. inequitably distribute wealth Answer: b. achieve low unemployment 44. Some nations, such as France, South Korea, and Germany, mix principles of market and command economy through _____. a. government ownership of significant resources b. government influence on the allocation of resources but without an ownership interest in those resources c. an ongoing mix of representatives of labor, consumers, industry, and affected stakeholders in economic decision-making d. extensive consultation with representatives of industry and consumer associations to determine the optimal allocation of resources Answer: a. government ownership of significant resources 45. Since the late 1980s, the growing emergence of freer markets has been powered by the realization that _____. a. economic growth is directly related to economic freedom b. economic growth has limited effect on improving the standard of living c. adoption of free market principles contributes to social injustices d. centrally planned economies are best designed to deliver progress Answer: a. economic growth is directly related to economic freedom 46. Since late 1980s, two trends—the movement toward democratic political systems and the adoption of free market principles—strongly suggest _____ between economic freedom and economic growth. a. a negative correlation b. a positive correlation c. no relationship effect d. a random relationshipage Answer: b. a positive correlation 47. The results of the Economic Freedom Index strongly suggest that _____ exhibited high economic freedom whereas _____ exhibit little to no economic freedom. a. mixed economies; market economies b. command economies; market economies c. market economies; command economies d. mixed economies; command economies Answer: c. market economies; command economies 48. The Economic Freedom index indicates that the economic freedom associated with a _____ economy creates greater incentives for innovation than alternative economic systems. a. mixed b. command c. state directed d. market Answer: d. market 49. Evidence indicates that _____ and _____ activity are the engines of long-run economic growth. a. economic policy; governmental regulation b. innovation; entrepreneurial activity c. basic manufacturing; entrepreneurial activity d. governmental direction; industry standards Answer: b. innovation; entrepreneurial activity 50. A fundamental limitation of mixed and command economies is their tendency to _____. a. over-rely on the good graces of people to act fairly in economic matters b. decrease the risk-affinitive behavior of entrepreneurs and companies c. open their national market to international competition d. invest heavily to stay at the forefront of technology Answer: b. decrease the risk-affinitive behavior of entrepreneurs and companies 51. A fundamental strength of a free market economy is its tendency to _____. a. over-rely on the good graces of people to act fairly in economic matters b. increase the risk-affinitive behavior of entrepreneurs and companies c. close its national market to international competition d. invest as needed to stay near the forefront of technology Answer: b. increase the risk-affinitive behavior of entrepreneurs and companies 52. Global markets progressive movement from industrial to intellectual enterprises as the basis of value creation pushes movements to design economic systems that _____. a. setup public system to supervise emerging products and industries b. create more economic freedom c. rely on high-profile task forces to plan the country' growth strategy d. improve the effectiveness of greater day-to-day market regulation Answer: b. create more economic freedom 53. The process of transition to a market economy, whether taking place in China, Iceland, Chile, Brazil, Russia, or Italy, follows a(n) _____ step-by-step sequence. a. identical b. different c. systematic d. random Answer: b. different 54. Consistent protection of property rights means investors and entrepreneurs, not (the) _____, will directly prosper from their hard work. a. government b. stakeholders c. companies d. consumers Answer: a. government 55. Adopting free market principles requires that a government has strict implications to how governments apply fiscal and monetary policies, namely _____. a. relying on administratively oriented instruments for macroeconomic stabilization b. setting soft, flexible budget limits c. using industry-based preference policies to manage the money supply d. accepting temporary economic hardships Answer: b. setting soft, flexible budget limits 56. The shift from a command or mixed economy to a market economy has largely depended on how well the country's government could dismantle certain features such as _____ and create certain features such as _____ in its economic environment. a. central planning systems; consumer sovereignty b. private ownership; public control c. artificially cheap capital; low R & D investment d. large scale production facilities; cheap labor Answer: a. central planning systems; consumer sovereignty 57. The process of economic transformation in the former command economies undergoing an economic transition _____. a. typically follows the same process from country to country b. is usually accompanied by violent political change c. varies from country to country d. must be accompanied by high economic growth rates Answer: c. varies from country to country 58. As countries in transition from a command to a market economy move to control expenditures and reduce their budget deficits, one important strategy to pursue is which of the following? a. nationalization of private-owned enterprises b. commercialization of state-owned enterprises c. industrialization of state-owned enterprises d. privatization of state-owned enterprises Answer: d. privatization of state-owned enterprises 59. In general, transition toward a free market economy implies all of the following except _____. a. increasing government subsidies to protect locally owned and operated enterprises b. liberalizing economic activity, prices, and market operations c. developing indirect, market-oriented instruments for macroeconomic stabilization d. achieving effective enterprise management and economic efficiency Answer: a. increasing government subsidies to protect locally owned and operated enterprises 60. _____ involves removing legal restrictions to the free play of markets, the establishment of private enterprises, and the manner in which private enterprises operate. a. Privatization b. Syndication c. Deregulation d. Renationalization Answer: a. Privatization 61. The fact that different countries have different levels of economic development, performance, and potential makes economic analysis a straightforward task. Answer: False 62. A country's economic policies give a clear indication of the government's goals and the economic tools and market reforms it must adopt. Answer: True 63. Gross domestic product is the value of production that takes place within a nation's border, without regard to whether the production is done by domestic or foreign factors of production. Answer: True 64. Per capita GNI is determined by multiplying the size of GNI of a nation by its total population. Answer: False 65. Indicators like GNI, and its expression in terms of per capita, growth rate, and PPP, by focusing on monetary growth, only partially represent the scale and scope of a country's level of development. Answer: True 66. The Human Development Index measures the average achievements in a country on three basic dimensions of human development: mortality, knowledge, and standard of living. Answer: True 67. Inflation occurs because aggregate demand is growing as fast as aggregate supply. Answer: False 68. Inflation affects interest rates, exchange rates, the cost of living, general economic confidence, and the stability of the current political system. Answer: True 69. External debt results when the government spends more than it collects in revenues whereas internal debt results when a government borrows money from foreign lenders. Answer: False 70. The so-called "misery index" is the sum of a country's inflation and unemployment rates. Answer: True 71. Uneven income distribution is largely a problem confined to poorer nations. Answer: False 72. There is a strong relationship between skewed income distributions and the split between those who live in urban settings versus those who live in rural areas. Answer: True 73. The balance of trade records is a country's international transactions that take place among companies, governments, or individuals. Answer: False 74. The fundamental notion of balance means that all BOP transactions have an offsetting receipt. Answer: True 75. An economic system is the set of structures and processes that guides the al¬location of resources and shapes the conduct of business activities. Answer: True 76. The range of economic systems in the world today, when represented on a spectrum, has one end anchored by the idea of capitalism, the other with that of socialism. Answer: True 77. A market economy gives individuals the freedom to decide where to work doing what, how to spend or save money, and whether to consume now or later. Answer: True 78. A market economy is one in which resources are primarily owned and controlled by the public sector. Answer: True 79. In a command economy, the goods and services that a country produces, the quantity in which they are produced, and the prices at which they are sold are all planned by the government. Answer: True 80. The government considers itself a better judge of resource allocations than its businesses or citizens in a market economy. Answer: False 81. In a mixed economy all dimensions of economic activity, including pricing and production decisions, are determined by a central government plan. Answer: False 82. A mixed economy is a system where economic decisions are largely market driven and ownership is largely private, but the government intervenes in many private economic decisions. Answer: True 83. There is a positive correlation between economic freedom and economic growth. Answer: True 84. Over the past quarter century, more countries have moved toward developing economic systems marked by greater freedom. Answer: True 85. Governments, over time, tend toward under-regulation of the economic environment and greater day-to-day intervention in market activities. Answer: False 86. Government control and ownership of factors of production decrease the risk-affinitive behavior of entrepreneurs and companies. Answer: True 87. As countries in transition from a command to a market economy move to control expenditures and reduce their budget deficits, one important strategy to pursue is privatization of state-owned enterprises. Answer: True 88. Economic transition implies developing indirect, market-oriented instruments for macroeconomic stabilization. Answer: True 89. Privatization reduces debt by removing the need of the government to subsidize the stateowned enterprises. Answer: True 90. Deregulation involves removing legal restrictions to the free play of markets, the establishment of private enterprise, and the manner in which private enterprises operate. Answer: True 91. In a short essay, define GNI and its effect on international business. Answer: Gross National Income is the broadest measure of economic activity. It is the market value of final goods and services newly produced by domestically owned factors of production. For example, the value of a Ford car manufactured in the United States and the portion of the value of a Ford manufactured in Mexico using U.S. capital and management counts in U.S. GNI. However, the portion of the value of a Japanese Toyota manufactured in the United States using Japanese capital and management would not be counted in U.S. GNI, but it would be counted in Japanese GNI. Countries are classified according to per capita GNI, or the size of GNI of a nation divided by its total population. Those countries with high populations and high per-capita GNI are most desirable in terms of market potential. Those with low per capita GNI and low populations are least desirable, and the other countries fit somewhere in between. 92. Contrast ways of comparing countries by income. Answer: The key dimension used to distinguish one country from another is the size of demand, or the gross national income (GNI), formerly referred to as Gross National Product. In particular, countries are classified according to per capita GNI, or the size of GNI of a nation divided by its total population. Those countries with high populations and high per capita GNI are most desirable in terms of market potential. Those with low per capita GNI and low populations are least desirable, and the other countries fit somewhere in between. 93. An economic factor that management needs to consider is inflation. In a short essay, define inflation and discuss the effects of inflation on international business. Answer: Inflation means that prices are going up. The inflation rate is the percentage increase in the change in prices from one period to the next, usually a year. Economists use different types of indices to measure inflation, but the one they use the most is the Consumer Price Index. The CPI measures a fixed basket of goods and compares their prices from one period to the next. A rise in the index results in inflation. The demand can occur because of government spending where spending is rising faster than the tax revenues to fund the spending or because of increases in the money supply. Inflation affects interest rates, exchange rates, the cost of living, and the general confidence in a country's political and economic system. 94. What is a balance of payments, and what are its major components? Answer: The balance of payments records a country's international transactions. These can be transactions between companies, governments, or individuals. The balance of payments is divided into the current account and the capital and financial account. The current account is comprised of trade in goods and services and income from assets abroad and payments on foreign-owned assets in the country. The capital account shows transactions in real or financial assets between countries. 95. A useful way to classify countries is by economic system. In a short essay, describe and discuss the three ways economies can be categorized. Answer: a. Market economy—A market economy is one in which resources are primarily owned and controlled by the private sector, not the public sector. The key factors that make the market economy work are consumer sovereignty and freedom of companies to operate in the market. Prices are determined by supply and demand. b. Command economy—In a command economy, also known as a centrally planned economy, all dimensions of economic activity, including pricing and production decisions, are determined by a central government plan. The government owns and controls all resources. The government sets goals for every business enterprise in the country by how much they produce and for whom. In this type of economy, the government considers itself a better judge of resource allocation than its businesses or citizens. c. Mixed economy—In actuality, no economy is purely market or completely command oriented. Most market economies have some degree of government ownership and control, while most command economies are moving toward a market economy and away from command concepts. 96. Each year, the Heritage Foundation and the Wall Street Journal publish an index of economic freedom in which they rate countries according to 50 variables organized into 10 economic factors. In a short essay, list and discuss the economic factors on which this index is based, and describe the 2005 index country classifications. Answer: a. The economic factors on which the index of economic freedom is based are trade policy, taxation, government intervention in the economy, monetary policy, capital flows and investment, banking, wage and price controls, property rights, regulation, and black markets. The study is helpful in that it identifies ways that governments control economic activity and the degree to which they do so. b. The 2004 index classified countries as free, mostly free, mostly unfree, and repressed. Examples of free countries include Hong Kong, Singapore, and the United States, while repressed countries include Iraq, Cuba, and North Korea. Mostly free countries include the Czech Republic, Japan, and Canada, and mostly unfree countries include Zambia, Mexico, and Brazil. Countries at the top of the index (free countries) also have a high degree of political freedom, whereas the countries at the bottom of the index (repressed countries) have no political freedom. c. For the first time in the history of the index, the United States was not one of the 10 freest economies; it ranked number 12. Technically, America's score on the index stayed the same as it was on the preceding survey. Several other countries had taken steps to reduce the role of government or regulation in their economies, thereby moving ahead of the United State. Iceland, for instance, cut taxes and reduced regulation of its banks to move to rank number 8 while Chile reduced tariffs on imports to rank number 11. 97. Most command economies are in the process of transition to a market economy. In a short essay, discuss the meaning of transition, and also discuss the related factors that can make an economic transition more successful. Answer: In general, transition to a market economy implies all of the following: • Liberalizing economic activity, prices, and market operations, along with reallocating resources to their most efficient use • Developing indirect, market-oriented instruments for macroeconomic stabilization • Achieving effective enterprise management and economic efficiency, usually through privatization • Imposing hard budget constraints, which provides incentives to improve efficiency • Establishing an institutional and legal framework to secure property rights, the rule of law, and transparent market-entry regulations In addition, countries in transition have shown success is largely contingent on implementing policies that support: • Sustained macroeconomic stabilization (inflation control) is essential. • No pain, no gain. Delayed reforms may defer the pain, but they defer sustained recovery and increase the risk that growth will be reversed. • There is no royal road to reform. There is no one key to growth; countries have to implement all the different components of reform. • Developing an appropriate legal structure is indispensable. 98. What is privatization? Answer: As countries move to control expenditures and reduce their budget deficits, one important strategy to pursue is the privatization of state-owned enterprises. Privatization reduces debt by removing the need of the government to subsidize the state-owned enterprise. When the government owns enterprises, it often feels an obligation to keep the enterprises afloat to preserve jobs. Once it is free from ownership, the enterprises can succeed or fail on their own merits. 99. Discuss the policies and constraints that shape transition to a market economy. Answer: The shift from a command to a market economy is different for each country. However, the success of transition depends on how well a government deals with privatizing the means of production, deregulating the economy, protecting property rights, reforming fiscal and monetary policies, and applying antitrust regulation. a. Privatization is the sale of state-owned enterprises to the domestic or foreign sector, which helps governments reduce internal debt. b. Deregulation is the removal of rules that control or restrict the operations of an industry or company. c. Property rights permit an individual to own property and keep the income earned from it. d. Governments can use fiscal and monetary reform to create stable economic environments that attract investors, companies, and capital needed to start and finance growth. e. Antitrust laws aim to maintain and promote market competition. Test Bank for International Business: Environments and Operations John D. Daniels, Lee H. Radebaugh, Daniel P. Sullivan 9780131869424, 9780201846188, 9780130308016, 9780201566260, 9780201107135, 9780132668668
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